There will be no last-minute rescue for the NCsoft City of Heroes MMO, despite players’ last-ditch efforts to force NCsoft to reconsider its decision to shut down the MMO.

NCsoft acknowledges that they have heard player’s voices and the concerns over the game being shut down. According to NCsoft, every option was explored and a number of things were taken into consideration before the decision was made to close both Paragon Studios and to also shut down City of Heroes.

Options, such as selling Paragon and the City of Heroes intellectual property, were explored at great length; but no deals were able to be cut. The game, which lasted 8 years, has caused long-time players to feel sad and devastated, with many saying that they will boycott anything from NCsoft in the future. It is always difficult when it comes to this, but it is something that happens. As we wave goodbye to City of Heroes, we will remember the good times that we had.

Nexon, the Korea video game developer, has acquired a 14.7% stake in NCSoft according to a number of reports, and the company is confirming this. NCSoft is a fellow Korean publisher. While the two companies have been focused on different market niches, the decision seems to be sitting well with many we have spoken with.

According to Nexon, the purchase was part of a long-term partnership between the two companies. The 14.7% interest in NCSoft is said to have cost approximately $688 million dollars to get the deal done.

Sources tell us that the shares, which number around 3.218 million, were purchased from NCSoft Chairman and founder, Taek Jin Kim. With this purchase, Nexon is now the largest shareholder in the company.